Certified Basel iii Professional (CBiiiPro)
Objectives: The seminar has been designed to provide with the knowledge and skills needed to understand the new Basel III framework and to work in Basel III Projects.
Target Audience: This course is intended for managers and professionals working in Banks, Financial Organizations, Financial Groups and Financial Conglomerates who need to understand the new Basel III requirements, challenges and opportunities. It is also intended for management consultants, vendors, suppliers and service providers working for financial organizations.
This course is highly recommended for:
- Managers and Professionals involved in Basel III (decision making and implementation)
- Risk and Compliance Officers
- Auditors
- IT Professionals
- Strategic Planners
- Analysts
- Legal Counsels
- Process Owners
Operational Risk Management under BASEL eraTreat Risk
Operational risk have always ignored by Banks as they thought Credit and market risks can cause catastrophe. But history of misfortunes taught us different lessons. Controls and internal audit have long been construed as guard till BASEL II dictates forced banks to look with insight. Understand the dimension of ORM in this presentation.
Operational Risk Management under BASEL eraTreat Risk
Operational risk have always ignored by Banks as they thought Credit and market risks can cause catastrophe. But history of misfortunes taught us different lessons. Controls and internal audit have long been construed as guard till BASEL II dictates forced banks to look with insight. Understand the dimension of ORM in this presentation.
Operational Risk Management Under Basel II & Basel IIIEneni Oduwole
In this introductory presentation on the subject, salient features that changed in approaches adopted for Operational Risk Management under Basel I and Basel I were highlighted.
Learn with SAZZAD - ISA 315 (Revised)
Identifying and Assessing The Risks of Material Misstatement Through
Understanding the Entity and its Environment
Audit of Internal Financial Control over Financial Reporting (IFCR) A complet...Taufir Alam
Introduction to the Presentation on internal financial control over financial reporting_a complete guide
The Companies Act, 2013 has introduced some new requirements relating to audits and reporting by the statutory auditors of companies.
One of these requirements is given under Section 143(3)(i) of the Act which requires the statutory auditor to state in his audit report whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.
The section has cast onerous responsibilities on the statutory auditors because reporting on internal financial controls is not covered under the Standards on Auditing issued by the ICAI.
Since the concept of reporting on internal financial controls is still new in India this new reporting requirement has thrown up many challenges for the members.
To help the members properly understand and perform the various aspects of this reporting responsibility, the Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has brought out this Guidance Note on Audit of Internal Financial Controls Over Financial Reporting.
The Guidance Note covers aspects such as Scope of reporting on internal financial controls under Companies Act 2013, essential components of internal controls, Technical guidance on the audit of Internal Financial Controls, Implementation guidance on the audit of Internal Financial Controls.
I have presented the above guidance note into a presentation that will have a complete guide for those who are planning to go for Audit of Internal financial control over financial reporting. this presentation will cover all the relevant aspects and also provide the standard operation process for the efficient conduct of the IFCR Audit. You don't need to read the complete Guidance note.
Presentation by Vincent Tophoff, IFAC Senior Technical Manager, and J. Stephen McNally, Campbell Soup, on the pitfalls in current risk management and internal control practices and the new Internal Control-Integrated Framework from COSO (the Committee of Sponsoring Organizations of the Treadway Commission).
This paper focuses on the evolution of global banking regulations set by the Basel Committee on Banking Supervision known as the Basel Accords. We argue that argue that both Basel I and Basel II have failed and we expect the same from Basel III. We believe Basel III will fail because of: i) path dependency on two previous failed accords, ii) delayed implementation, iii) strong pressure from bank-supported lobbyists and finally iv) strong influence of politicians. Rather than proposing new banking regulatory initiatives, we recommend imposing higher personal responsibility for bank managers, regulators and supervisors. As a result, Basel III will not prevent future crises from affecting the global banking industry.
Operational Risk Management Under Basel II & Basel IIIEneni Oduwole
In this introductory presentation on the subject, salient features that changed in approaches adopted for Operational Risk Management under Basel I and Basel I were highlighted.
Learn with SAZZAD - ISA 315 (Revised)
Identifying and Assessing The Risks of Material Misstatement Through
Understanding the Entity and its Environment
Audit of Internal Financial Control over Financial Reporting (IFCR) A complet...Taufir Alam
Introduction to the Presentation on internal financial control over financial reporting_a complete guide
The Companies Act, 2013 has introduced some new requirements relating to audits and reporting by the statutory auditors of companies.
One of these requirements is given under Section 143(3)(i) of the Act which requires the statutory auditor to state in his audit report whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.
The section has cast onerous responsibilities on the statutory auditors because reporting on internal financial controls is not covered under the Standards on Auditing issued by the ICAI.
Since the concept of reporting on internal financial controls is still new in India this new reporting requirement has thrown up many challenges for the members.
To help the members properly understand and perform the various aspects of this reporting responsibility, the Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India has brought out this Guidance Note on Audit of Internal Financial Controls Over Financial Reporting.
The Guidance Note covers aspects such as Scope of reporting on internal financial controls under Companies Act 2013, essential components of internal controls, Technical guidance on the audit of Internal Financial Controls, Implementation guidance on the audit of Internal Financial Controls.
I have presented the above guidance note into a presentation that will have a complete guide for those who are planning to go for Audit of Internal financial control over financial reporting. this presentation will cover all the relevant aspects and also provide the standard operation process for the efficient conduct of the IFCR Audit. You don't need to read the complete Guidance note.
Presentation by Vincent Tophoff, IFAC Senior Technical Manager, and J. Stephen McNally, Campbell Soup, on the pitfalls in current risk management and internal control practices and the new Internal Control-Integrated Framework from COSO (the Committee of Sponsoring Organizations of the Treadway Commission).
This paper focuses on the evolution of global banking regulations set by the Basel Committee on Banking Supervision known as the Basel Accords. We argue that argue that both Basel I and Basel II have failed and we expect the same from Basel III. We believe Basel III will fail because of: i) path dependency on two previous failed accords, ii) delayed implementation, iii) strong pressure from bank-supported lobbyists and finally iv) strong influence of politicians. Rather than proposing new banking regulatory initiatives, we recommend imposing higher personal responsibility for bank managers, regulators and supervisors. As a result, Basel III will not prevent future crises from affecting the global banking industry.
Banking Aspect Basel-III’s Advantages A Retrospective StudyBa.docxikirkton
Banking Aspect Basel-III’s Advantages: A Retrospective Study
Banking Aspect Basel-III’s Advantages: A Retrospective Study
By: (Name)
(Professor)
(Institution)
25th November, 2012
Abstract
Basel I and Basel II had been developed earlier and were less stringent. The need for Basel III has come at the appropriate time. Since Basel II has failed to be effective, the new regulatory framework has shown that it can adequately sustained the vibrancy of banking industry in time of financial and economic crises. From financial perspective, Basel III has facilitated the sustenance of tangible capital specifications across all financial systems. Due to such measures the dynamics of supervisory requirements including capital adequacy have been harmonized in all banking agencies. Also the scope of evaluation capabilities within individual banks is as well explicitly refined within the dynamics of Basel III specifications.
Basel I accord restricted the innovative aspects which concerned supervisory responsibilities, and this dragged the implementation of various capital markets service applications (Roberts 1999). On the other hand, Base II was highly sensitive to risks than were in Basel I. It was also declared inadequate due to the emergence of reputation risks, strategic risks as well as systematic risks. Basel III’s importance became a reality because it incorporated more risk-evasive techniques and it was risk-proof.
Contents
61.INTRODUCTION
61.1.Basel III Accord
71.2.Problem statement
81.3.Background to the research
91.4.Research Approach
101.5.Research Objectives
111.6.Research Aims:
121.7.Research Questions
132.Literature Review
132.1.UK Banking Environment
142.1.1.Retail Banking
152.2.Corporate Banking
162.3.Over the Counter derivatives
162.4.Cash Trading
172.5.Securitizations
172.6.Basel II
192.7.Problems with Basel II
212.8.Failure
232.9.The need for introduction of better banking standards overlooked by Basel II
242.10.Key factors of consideration in the implementation of regulatory framework
252.11.Need of the Basel-III Accord
262.12.Integrating of Basel III and Basel II
282.13.How will Basel III affect banks?
302.14.Why Basel III
312.15.Basel III Advantages
322.16.Basel III and Financial Stability
342.17.Benefits of stringent regulation
342.18.The new requirement for liquidity and capital conversion buffer
373.Research Methodology
373.1.Primary sources
373.2.Secondary Sources
383.3.The effects of Basel III regulations on the performance of banks
393.4.The cost banks bear after the adopting Basel-III
424.Empirical Evidence
424.1.Earlier studies
444.2.Current Studies
454.3.Basel III Future
464.4.Essential Guidelines for successful implementation of Basel III in banks
495.Conclusion
51References List
1. INTRODUCTION
1.1. Basel III Accord
Basel III or Basel 3 is a development released in December, 2010 in a sequence of three series of Basel Accords. Basically, in the banking sector, there are risks and ventures that can prove stringent on bus ...
Basel Accords - Basel I, II, and III Advantages, limitations and contrastSyed Ashraf Ali
The Basel Accords is referred to the banking supervision Accords (recommendations on banking regulations). Basel I, Basel II and Basel III was issued by the Basel Committee on Banking Supervision (BCBS). They are called the Basel accords as the BCBS maintains its secretariat at the Bank for
International Settlements in Basel, Switzerland and the committee normally meets there. The Basel Accords is a set of
recommendations for regulations in the banking industry.
Solvency ii Association
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Solvency ii Association
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Solvency ii Association
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Solvency ii Association
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Solvency ii Association
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Solvency ii Association
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http://www.solvency-ii-association.com/CSiiP_Distance_Learning_Online_Certification_Program.htm
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Solvency ii Association
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http://www.solvency-ii-association.com/CSiiP_Distance_Learning_Online_Certification_Program.htm
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http://www.solvency-ii-association.com/CSiiP_Distance_Learning_Online_Certification_Program.htm
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Basel iii Compliance Professionals Association (BiiiCPA)
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The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
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Basel iii Compliance Professionals Association (BiiiCPA)
http://www.basel-iii-association.com
The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
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Basel iii Compliance Professionals Association (BiiiCPA)
http://www.basel-iii-association.com
The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
Receive (at no cost) the New Member Orientation newsletters:
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Basel iii Compliance Professionals Association (BiiiCPA)
http://www.basel-iii-association.com
The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
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Basel iii Compliance Professionals Association (BiiiCPA)
http://www.basel-iii-association.com
The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
Receive (at no cost) the New Member Orientation newsletters:
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Basel iii Compliance Professionals Association (BiiiCPA)
http://www.basel-iii-association.com
The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
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Basel iii Compliance Professionals Association (BiiiCPA)
http://www.basel-iii-association.com
The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
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Basel iii Compliance Professionals Association (BiiiCPA)
http://www.basel-iii-association.com
The Basel iii Compliance Professionals Association (BiiiCPA) is the largest association of Basel iii Professionals in the world. It is a business unit of the Basel ii Compliance Professionals Association (BCPA), which is also the largest association of Basel ii Professionals in the world.
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Risk management presentation April 15 2013Compliance LLC
International Association of Risk and Compliance Professionals (IARCP)
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Every Monday
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International Association of Risk and Compliance Professionals (IARCP)
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Every Monday
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International Association of Risk and Compliance Professionals (IARCP)
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What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Basel iii Compliance Professionals Association (BiiiCPA) - Part A
1. Certified Basel iii Professional
(CBiiiPro)
Official Prep Course
Part A
Basel iii Compliance Professionals
Association (BiiiCPA)
The largest association of Basel iii Professionals in the world
2. Introduction
The Basel iii Compliance Professionals Association
(BiiiCPA) is the largest association of Basel III
professionals in the world
www.basel-iii-association.com
A business unit of the Basel ii Compliance Professionals
Association (BCPA), the largest association of Basel II
professionals in the world
www.basel-ii-association.com
3. Introduction
The association develops and maintains a compendium
of Basel iii related risk and compliance topics
Subject matter experts review and update this body of
knowledge
4. Introduction
Basel iii certificates:
Certified Basel iii Professional (CBiiiPro)
Certified Pillar 2 Expert - Basel 3 (CP2E-B3)
Certified Pillar 3 Expert - Basel 3 (CP3E-B3)
Certified Stress Testing Expert - Basel 3 (CSTE-B3)
(The CP2E-B3, CP3E-B3, CSTE-B3 are under development)
5. Introduction
Certified Basel iii Professional (CBiiiPro): The exam is
online
To find more:
www.basel-iii-
association.com/Questions_About_The_Certification_And_The_Exams_1.pdf
www.basel-iii-association.com/Certification_Steps_CBiiiPro.pdf
6. Agenda
What is Basel iii?
The Basel III papers
Was Basel II responsible for the market crisis?
Introduction to the Basel III Amendments
The Financial Stability Board (FSB), the G20 and the
Basel III framework
7. Agenda
“Principles for enhancing corporate governance”
BIS, October 2010
The key areas where the Basel Committee believes the
greatest focus is necessary:
1. Board practices
2. Senior management
3. Risk management and internal controls
8. Agenda
4. Compensation
5. Complex or opaque corporate structures
6. Disclosure and transparency
The role of supervisors
“Sound Practices for the Management and Supervision of
Operational Risk”
BIS, December 2010
The 9 principles
9. Agenda
The Basel III Framework: Important Amendments
Firm Specific Changes
System-Wide Systemic Risk-Based Framework
The Quality of Capital
The Risk Weighted Assets
The Capital Ratio
Global Liquidity Standards
10. Agenda
Capital Conservation
Leverage Ratio
Countercyclical Capital Buffer
Systemically Important Financial Institutions (SIFIs)
Systemically Important Markets and Infrastructures
(SIMIs)
Risk Modelling, Stress Testing and Scenario Analysis
11. Agenda
Pillar 2 Amendments
“Principles for sound stress testing practices and
supervision”
Use of stress testing and integration in risk governance
Stress testing methodologies
Scenario selection
Principles for sound stress testing practices and
supervision
12. Agenda
Firm-wide stress testing
15 stress testing principles for banks
6 stress testing principles for supervisors
“Recognising the risk-mitigating impact of insurance in
operational risk modelling” BIS, October 2010
Insurance industry supervision
Banking supervisors’ assessment processes
Approval of insurance contracts
13. Agenda
Revoking approval for recognising insurance mitigation
in capital
Maximum 20% operational risk capital charge reduction
Modelling methodology
Traditional and proposed insurance policies
Criteria for recognising insurance mitigation
Partial insurance modelling
14. Agenda
Understanding Supervisory Colleges
“Good practice principles on supervisory colleges”
BIS, October 2010
Principles for both home and host supervisors
Principle 1: College objectives
Principle 2: College structures
Home supervisors, Host supervisors
Principle 3: Information sharing
Principle 4: Communication channels
15. Agenda
Principle 5: Collaborative work
Principle 6: Interaction with the institution
Principle 7: Crisis management
Principle 8: Macroprudential work
Case Study: Committee of European Banking
Supervisors, Guidelines for the Operational Functioning
of Supervisory Colleges: Joint decision on model
validation
16. Agenda
Dodd-Frank Act and Basel III
The Capital Requirements Directives (II, III, IV) and
Basel III
Solvency II and Basel III
Investment Banking, Retail Banking, Corporate Banking
after Basel III
The impact of Basel III
Closing remarks
17. Why the dots … are used?
We often use dots … why?
An opportunity to understand the importance of certain words
and phrases
Example:
While it is helpful to draw on extreme values from historical
periods of stress …
… sensitivity analysis ***should also include hypothetical***
extreme values …
… to ensure that a wide range of possibilities is included
There are ***no words that are omitted*** when we use dots
17
18. What is Basel III?
According to Jaime Caruana, General Manager, Bank for
International Settlements …
… Basel III is defined as the enhanced Basel II capital
framework and …
… the new global micro- and macroprudential banking
standards
Basel III is marrying the microprudential and the
macroprudential approaches to supervision
20. There is no single “Basel III Paper”
“What could more broadly be referred to as Basel III
began with the issuance of the revised securitisation and
trading book rules in July 2009…
… and then the consultative document in December 2009
The trading book rules will be implemented at the end of
2011 and the new definition of capital and capital
requirements in Basel III over a six-year period
beginning in January 2013”
Hervé Hannoun, Deputy General Manager, Bank for
International Settlements, 22 November 2010
21. Basel III: A global regulatory framework for more
resilient banks and banking systems
“Basel III: A global regulatory framework for more
resilient banks and banking systems”
Bank of International Settlements, December 2010
This document, together with the document …
… “Basel III: International framework for liquidity risk
measurement, standards and monitoring”…
… presents the Basel Committee’s reforms to strengthen
global capital and liquidity rules …
… with the goal of promoting a more resilient banking
sector
22. Basel III: A global regulatory framework for more
resilient banks and banking systems
The ***objective*** of the reforms is to improve the
banking sector’s ability to absorb shocks …
… arising from financial and economic stress, whatever
the source …
… thus reducing the risk of spillover from the financial
sector to the real economy
23. Basel III: A global regulatory framework for more
resilient banks and banking systems
Also, to improve risk management and governance …
… as well as strengthen banks’ transparency and
disclosures…
… and to strengthen the resolution of systemically
significant cross-border banks
The Basel Committee strengthens the regulatory capital
framework …
… building on the three pillars of the Basel II framework
24. There is no single “Basel III Paper”
Basel III in Europe includes the revisions to the
European Union’s Capital Requirements Directive (CRD)
1. CRD II (higher-quality capital)
2. CRD III (amendments to market-risk and
securitization)
3. CRD IV (capital rules, liquidity, leverage, single
European rulebook in banking)
25. Was Basel II responsible for the market
crisis?
“Forgive me for being very blunt, but I do NOT believe
that Basel II contributed to the recent crisis for two
reasons
First, the crisis manifested itself in 2007 on the basis of
imbalances that had built up prior to the implementation
of Basel II
Second, many countries that have adopted Basel II did so
in 2008 or later. The crisis came too soon for Basel II to be
credibly held responsible”
Jaime Caruana, General Manager, Bank for International
Settlements
26. Basel III – When?
National implementation for Basel Committee member
countries will begin on 1 January 2013
It will be incremental and is expected to reach the final
level on 1 January 2019
27.
28. Basel 2
Basel II implementation
At the Pittsburgh Summit, the G20 Leaders reaffirmed
their commitment to adopt the Basel II framework…
… with all major G20 financial centres to adopt Basel II
by 2011 and the other G20 countries progressing toward
adoption
29. Basel 2
Most countries have already fully adopted Basel II…
… and the remaining countries are still in the process
The effects of the financial crisis became manifest in 2007
and built-up prior to the implementation of Basel II
31. A really important question
Can I learn today what is going to happen tomorrow in
the financial sector?
Answer: Yes
You must monitor the recommendations from the
Financial Stability Board (FSB) …
… that will be endorsed by the G-20 …
… and then become part of the Basel iii framework and
other laws and regulations
32. A really important question
The Basel Committee on Banking Supervision (BCBS)
has translated the FSB’s recommendations into …
… a new regulatory capital and liquidity regime
The FSB was established in April 2009 as the successor to
the Financial Stability Forum (FSF)
The FSF was founded in 1999 by the G7 Finance
Ministers and Central Bank Governors
33. The Financial Stability Board (FSB)
G7 had commissioned Dr Tietmeyer (President of the
Deutsche Bundesbank) to recommend new structures for
enhancing cooperation …
… among the various national and international
supervisory bodies and international financial
institutions …
… to promote stability in the international financial
system
He called for the creation of a Financial Stability Forum
34. The Financial Stability Board (FSB)
G7 Ministers and Governors endorsed the creation of the
FSF at a meeting in Bonn in February 1999
The FSF would bring together:
1. National authorities responsible for financial stability
in significant international financial centres …
… namely treasuries, central banks, and supervisory
agencies
35. The Financial Stability Board (FSB)
2. Sector-specific international groupings of regulators
and supervisors …
… engaged in developing standards and codes of good
practice
International financial institutions …
… charged with surveillance of domestic and
international financial systems …
… and monitoring and fostering implementation of
standard
36. The Financial Stability Board (FSB)
3. Committees of central bank experts concerned with
market infrastructure and functioning
In November 2008 the Leaders of the G20 countries called
for a ***larger membership of the FSF***
A broad consensus emerged in the following months
towards placing the FSF on stronger institutional ground
with an expanded membership
37. The Financial Stability Board (FSB)
Expanded membership can strengthen the effectiveness
of the FSB as a mechanism …
… for national authorities, standard setting bodies and
international financial institutions …
… to address vulnerabilities and …
… to develop and implement strong regulatory,
supervisory and other policies in the interest of financial
stability
38. The Financial Stability Board (FSB)
As announced in the G20 Leaders Summit of April
2009…
… the expanded FSF was re-established as the Financial
Stability Board (FSB) with …
… a broadened mandate to promote financial stability
39. FSB Charter
Objectives of the Financial Stability Board
The Financial Stability Board (FSB) is established to
coordinate at the international level …
… the work of national financial authorities and
international standard setting bodies (SSBs) in order…
… to develop and promote the implementation of
effective regulatory, supervisory and other financial
sector policies
40. FSB Charter
Mandate and tasks of the FSB
(1) As part of its mandate, the FSB will:
(a) Assess vulnerabilities affecting the global financial
system …
… and identify and review on a timely and ongoing basis
the regulatory, supervisory and related actions needed to
address them, and their outcomes
41. FSB Charter
(b) Promote coordination and information exchange
among authorities responsible for financial stability
(c) Monitor and advise on market developments and their
implications for regulatory policy
(d) Advise on and monitor best practice in meeting
regulatory standards
42. FSB Charter
(e) Undertake joint strategic reviews of the policy
development work of the international standard setting
bodies …
… to ensure their work is timely, coordinated, focused on
priorities and addressing gaps
(f) Set guidelines for and support the establishment of
supervisory colleges
43. FSB Charter
(g) Support contingency planning for cross-border crisis
management …
… particularly with respect to systemically important
firms
(h) Collaborate with the International Monetary Fund
(IMF) to conduct Early Warning Exercises
(i) Undertake any other tasks agreed by its Members in
the course of its activities
44. FSB Charter
(2) The FSB will promote and help coordinate the
alignment of the activities of the SSBs …
… to address any overlaps or gaps and …
… clarify demarcations in light of changes in national
and regional regulatory structures …
… relating to prudential and systemic risk, market
integrity and investor and consumer protection,
infrastructure, as well as accounting and auditing
45. List of FSB Members
A. Member Jurisdictions
Argentina
· Central Bank of Argentina
Australia
· Department of the Treasury
· Reserve Bank of Australia
Brazil
· Ministry of Finance
· Central Bank of Brazil
· Securities and Exchange Commission of Brazil
Canada
· Department of Finance
· Bank of Canada
· Office of the Superintendent of Financial Institutions (OSFI)
46. List of FSB Members
China
· Ministry of Finance
· People’s Bank of China
· China Banking Regulatory Commission
France
· Ministry of Economy, Industry and Employment
· Bank of France
· Autorité des Marchés Financiers (AMF)
Germany
· Ministry of Finance
· Deutsche Bundesbank
· Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin)
Hong Kong SAR
· Hong Kong Monetary Authority
47. List of FSB Members
India
· Ministry of Finance
· Reserve Bank of India
· Securities and Exchange Board of India
Indonesia
· Bank Indonesia
Italy
· Ministry of the Economy and Finance
· Bank of Italy
· Commissione Nazionale per le Società e la Borsa (CONSOB)
Japan
· Ministry of Finance
· Bank of Japan
· Financial Services Agency
48. List of FSB Members
Korea
· Bank of Korea
· Financial Services Commission
Mexico
· Ministry of Finance and Public Credit
· Bank of Mexico
Netherlands
· Ministry of Finance
· Netherlands Bank
Russia
· Ministry of Finance
· Central Bank of the Russian Federation
· Federal Financial Markets Service
49. List of FSB Members
Saudi Arabia
· Saudi Arabian Monetary Agency
Singapore
· Monetary Authority of Singapore
South Africa
· Ministry of Finance
Spain
· Ministry of Economy and Finance
· Bank of Spain
Switzerland
· Swiss Federal Department of Finance
· Swiss National Bank
Turkey
· Central Bank of the Republic of Turkey
50. List of FSB Members
United Kingdom
· HM Treasury
· Bank of England
· Financial Services Authority
United States
· Department of the Treasury
· Board of Governors of the Federal Reserve System
· Securities and Exchange Commission
European Central Bank
European Commission
51. List of FSB Members
B. International Financial Institutions
· Bank for International Settlements (BIS)
· International Monetary Fund (IMF)
· Organisation for Economic Co-operation and Development (OECD)
· World Bank
C. International Standard-Setting, Regulatory, Supervisory and Central Bank
Bodies
· Basel Committee on Banking Supervision (BCBS)
· Committee on Payment and Settlement Systems (CPSS)
· Committee on the Global Financial System (CGFS)
· International Accounting Standards Board (IASB)
· International Association of Insurance Supervisors (IAIS)
· International Organization of Securities Commissions (IOSCO)
53. The G20
The Group of Twenty is a group of Finance Ministers
and Central Bank Governors from 20 economies:
19 countries plus the European Union…
… which is represented by the President of the European
Council and by the European Central Bank
54. The G20
The G20 promotes open and constructive discussion
among systemically important countries …
… on key issues related to financial and economic
policies
The G20 leaders began meeting as a group only in the
last few years…
… but the G20 finance ministers have been meeting
annually since 1999
55. The G20
Those meetings had grown out of meetings coordinated
by the G7…
… (the US, Japan, United Kingdom, France, Germany,
Canada and Italy) …
… in the years following the 1974 oil shock
By the end of the 1990s emerging markets played an
increasingly important part in the global financial
system…
… and that needed to be reflected in international
economic governance
56. The G20
The G20 represents about two thirds of the world’s
population …
… and nearly 88% of the world’s economy
57. Basel III, the G20 and the FSB
12 November 2010, Seoul, Korea:
At the Summit, the G20 Leaders endorsed the Basel
Committee’s new bank capital and liquidity framework
(Basel iii) …
… and committed to adopt and fully implement the
framework within the agreed time frame
They also endorsed the FSB’s agreed policy framework
for reducing the moral hazard posed by Systemically
Important Financial Institutions (SIFIs)
58. Basel III, the G20 and the FSB
Financial institutions that are clearly systemic in a global
context (G-SIFIs) should have …
… ***higher loss-absorbency capacity than the minimum
levels agreed in Basel III***
These institutions must also be subject to more intensive
co-ordinated supervision and resolution planning …
… to reduce the probability and impact of their failure
59. Basel III, the G20 and the FSB
Since the onset of this crisis of 2007…
… national authorities and international bodies, with the
FSB as a central locus of coordination…
… have advanced a major program of financial reforms,
based on clear principles and timetables for
implementation …
… that seek to ensure that a crisis on this scale never
happens again
60. Basel III, the G20 and the FSB
A key piece of the global reform agenda has been
addressed with agreement on strengthened bank capital
and liquidity standards by the Basel Committee on
Banking Supervision (BCBS)…
… and ***its governing body***…
… the Group of Governors and Heads of Supervision
(GHOS)
The new standards will significantly improve the quality
and quantity of bank capital and enhance the resilience
of the banking system
61. Basel III, the G20 and the FSB
Basel III was approved at the GHOS meeting on 26 July
2010…
… and the calibration of the new minimum requirements
and capital buffers were approved at the GHOS meeting
on 12 September 2010
The implementation phase and transitional arrangements
were also agreed at the September GHOS meeting
62. Basel III, the G20 and the FSB
Legislative and regulatory reforms have progressed in
major jurisdictions
These have also provided for the development of
***system-wide oversight*** arrangements…
… such as the US Financial Stability Oversight Council
(FSOC) …
… and the EU European Systemic Risk Board (ESRB)
63. Basel III, the G20 and the FSB
With regulatory requirements on the banking system
tightening …
… the need intensifies for more systematic attention to
activities in the ***shadow*** banking sector
This sector continues to play an important role in credit
intermediation and liquidity transformation …
… outside the rigorous capital and liquidity regulatory
framework that applies to banks
64. To continue with Part B of the course:
Become a Certified Basel iii Professional (CBiiiPro)
To learn more:
www.basel-iii-
association.com/Basel_III_Distance_Learning_Online_C
ertification.html